tag:blogger.com,1999:blog-2761684730989137546.post1777964864875078767..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Comments On Scott Sumner's Questions About MMT — Brian Romanchukmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2761684730989137546.post-51562485846214266612020-11-25T06:26:29.945-05:002020-11-25T06:26:29.945-05:00After 1995, the percentage drifted higher (with a ...After 1995, the percentage drifted higher (with a few spikes)“<br /><br />Fiscal balance transitioning into Fiscal surplus... when in fiscal surplus govt “saves money!” in Depository’s Liability accounts on RHS, which result in Reserve Asset increase on LHS... USTs are net redeemed so there is no net “reserve drain” as there is no net bond issuance..<br /><br />Collapses LCR (govt deposit liabilities in the denominator) and retards bank credit... eventually a recession...Matt Frankohttps://www.blogger.com/profile/11978352335097260145noreply@blogger.com